Evolution Mining

5 May 2016

Lawrie Conway – Finance Director and CFO

Macquarie Australia Conference

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2

Forward looking statement

These materials prepared by Evolution Mining Limited (or “the Company”) include forward looking statements. Often, but not always, forward looking statements

can generally be identified by the use of forward looking words such as “may”, “will”, “expect”, “intend”, “plan”, “estimate”, “anticipate”, “continue”, and “guidance”,

or other similar words and may include, without limitation, statements regarding plans, strategies and objectives of management, anticipated production or

construction commencement dates and expected costs or production outputs.

Forward looking statements inherently involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results,

performance and achievements to differ materially from any future results, performance or achievements. Relevant factors may include, but are not limited to,

changes in commodity prices, foreign exchange fluctuations and general economic conditions, increased costs and demand for production inputs, the

speculative nature of exploration and project development, including the risks of obtaining necessary licenses and permits and diminishing quantities or grades

of reserves, political and social risks, changes to the regulatory framework within which the Company operates or may in the future operate, environmental

conditions including extreme weather conditions, recruitment and retention of personnel, industrial relations issues and litigation.

Forward looking statements are based on the Company and its management’s good faith assumptions relating to the financial, market, regulatory and other

relevant environments that will exist and affect the Company’s business and operations in the future. The Company does not give any assurance that the

assumptions on which forward looking statements are based will prove to be correct, or that the Company’s business or operations will not be affected in any

material manner by these or other factors not foreseen or foreseeable by the Company or management or beyond the Company’s control.

Although the Company attempts and has attempted to identify factors that would cause actual actions, events or results to differ materially from those disclosed

in forward looking statements, there may be other factors that could cause actual results, performance, achievements or events not to be as anticipated,

estimated or intended, and many events are beyond the reasonable control of the Company. Accordingly, readers are cautioned not to place undue reliance on

forward looking statements. Forward looking statements in these materials speak only at the date of issue. Subject to any continuing obligations under

applicable law or any relevant stock exchange listing rules, in providing this information the Company does not undertake any obligation to publicly update or

revise any of the forward looking statements or to advise of any change in events, conditions or circumstances on which any such statement is based.

All US dollar values in this presentation are calculated using the March 2016 quarter average AUD:USD exchange rate of $0.7215 unless otherwise stated.

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ASX Code EVN

Shares outstanding 1,468M

Market capitalisation1 A$3,110M

Average daily share turnover ~A$20M

Cash2 A$20M

Debt2 A$370M

Forward sales (Apr-16 to Jun-20) 795,688oz at A$1,620/oz

Dividend policy (Six dividends declared since Feb-13) 2% of revenue

Major shareholders La Mancha 30%, Van Eck 7%

197 214 213 220 217

378

H2FY13 H1FY14 H2FY14 H1FY15 H2FY15 H1FY16

Production (koz Au eq)

Evolution Mining overview

3

1. Based on a share price of A$2.12 per share on 3 May 2016

2. As at 30 April 2016. Debt represents long term debt excluding leases

3. Includes C1 cash cost plus royalty expense, sustaining capital, general corporate and administration expense.

1,303

1,070 1,067 1,035 1,037 954

H2FY13 H1FY14 H2FY14 H1FY15 H2FY15 H1FY16

AISC3 (A$/oz)

-5 41 50 58 80

203

H2FY13 H1FY14 H2FY14 H1FY15 H2FY15 H1FY16

Net Mine Cash Flow (A$M)

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Australian gold mining’s renaissance

4

Australian gold assets under new ownership

Rank Country Gold production 2015E

(metric tonnes)

1 China 457

2 Australia 277

3 Russia 256

4 United States 214

5 Peru 173

6 Canada 152

2015 Estimates. Source: GFMS, Thomson Reuters, Evolution Mining

Australia:

World’s second largest gold producer

First world jurisdiction

Excellent operating environment

High-quality workforce

Rapidly declining cost base

Low A$

Record cash margins

Australian listed gold companies make up

only 11.2% of the Van Eck GDX Gold Miners

Index (up from 8.0% on 30 June 2015)

Since April 2013 ~23% of Australia’s annual

gold production (2Moz p.a.) has changed

ownership

Emerging mid-tier sector providing attractive

investment opportunities

2015 Gold production by country

Source: Evolution Mining

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Diversified, 100% owned portfolio providing:

consistent, reliable production

attractive organic growth opportunities

5

Australia’s 2nd largest gold miner

FY16 YTD reflects 9 months of production from July 2015 to March 2016 Bubble size denotes FY15 actual full year production Mineral Resources are reported inclusive of Ore Reserves Mineral Resource s and Ore Reserve footnotes are provided on slides 18 and 19 of this presentation

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Declining cost base the result of:

upgraded asset quality

cost reductions

productivity gains

Evolution is now in the lowest cost quartile of global producers

6

Low cost production

225

374 375 394 452

593

1,303

1,070 1,067 1,035 1,037 954

1,528 1,444 1,442 1,429

1,489

1,547

H2 FY13 H1 FY14 H2 FY14 H1 FY15 H2 FY15 H1 FY16

AISC margin (A$/oz)

AISC Margin (A$/oz) AISC (A$/oz) Gold price achieved (A$/oz)

Gold price

AISC

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We act like owners

Accessing additional ounces

(Pajingo)

Our team identified an opportunity to explore new ways to

safely and economically access the potential ounces in an

area previously thought to be uneconomic, generating

revenue of ~A$1 million by mining an additional +950

ounces that were not in the original mine plan

Cheaper and more effective cyclone feed pumps (Cracow)

Our Engineering and Maintenance team member identified an alternative cyclone feed pump

(Weir Warman 150EE-MCR) and negotiated a trial to test the pump for $1 – with the balance

due only if the pump exceed the run time and performance of the current pump – which it did.

Benefit: Cost savings of up to A$200,000 on purchase, A$69,000 in reduced cost of stock

holding and reduced labour hours for rebuilds up to 96 hours per year and less power (Kw) for

the same performance duty

Whiskers fitted to the EX123 rock breaker

(Mt Carlton)

Our open pit supervisor and Trainer and Assessor’s idea

to fabricate and install sacrificial whiskers to the sides of

the rock breaker to protect the hydraulic hoses form

contacting the sides of the ROM during ROM bin de-

bridging and eliminate the need for a spotter

Benefit: Annualised saving of A$240,000

Cheaper and longer life pastefill paddles (Mungari)

Our operators in the Frog’s Leg underground pastefill

team halved the cost of the paddles required for

mixing the paste by identifying and trialling a cast

alternative which also delivered four times longer life

Benefit: Annualised saving of A$250,000

Whiskers fitted to rock breaker

Reducing stoppage time

by re-engineering broken bolts

(Mt Rawdon)

Our Maintenance Supervisor, reduced stoppage time in

the processing plant by up to 20 hours (equivalent to

~A$300,000) by using an innovative way to fix broken

bolts on a critical piece of equipment

Weir Warman 150EE-MCR cyclone feed pump

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Expanding EBITDA margins

47%

40%

33%

Group EBITDA Margin

30-Jun-14

30-Jun-15

31-Dec-15

33%

47%

29%

42%

29%

41%

53%

48% 45%

40%

59%

51%

59%

52%

15%

48%

38%

Cowal Mungari Mt Carlton Mt Rawdon Edna May Cracow Pajingo

Site EBITDA Margin

30-Jun-14 30-Jun-15 31-Dec-15

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Group EBITDA margins continue to expand

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Mine cash flow post all sustaining and major capital expenditure continues to show

strong positive momentum

March 2016 quarter net mine cash flow of A$105.8 million

Cash generated primarily directed towards A$237.0 million in early debt repayments

in the last eight months

Strong cash flow momentum

FY16+ cash flow accelerating due to:

Cowal and Mungari (increased volume and lower cost)

Ongoing focus on group wide cost reductions

Favorable A$ gold price

9

-5 41 50 58 80

203

H2FY13 H1FY14 H2FY14 H1FY15 H2FY15 H1FY16

Net Mine Cash Flow (A$M)

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Record quarterly Group gold production of 208,963 ounces at an AISC of A$1,015/oz

Record quarterly production from Cowal of 70,803 ounces at an AISC of A$757/oz

Record operating mine cash flow of A$154.9 million and net mine cash flow, post all

sustaining and major capital, of A$105.8 million

A total of A$80.0 million of early debt repayments made during the quarter

Interim dividend cash payment of A$12.1 million (net of DRP)

March 2016 quarter highlights

10

50

80 77

0.83

0.79

0.63

Sep-15 Dec-15 Mar-16

FY16 Debt Repayments (A$M) and Leverage Ratio

Revolver loan facility Term Loan facility Leverage Ratio (Net Debt to EBITDA)

70 60

50

100

57.5 50

12.5

FY 16 FY 17 FY 18 FY 19 FY 20 FY 21

Term Loan Facility Amortisation Profile (A$M)

Early Repayment Repayment Commitments

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A cornerstone asset

One of Australia’s most attractive gold

assets

FY16 attributable production guidance of

225 – 240koz Au at AISC of A$800 –

A$850/oz

Strong net cash generation of A$121.5

million in first eight months of ownership

Excellent exploration potential with recent

drill program at Galway and Regal

prospects returning an intersection of:

73m (25m etw) grading 4.79g/t from

207m in hole E46D32381

Reserves increased by 83% since Cowal

was acquired by Evolution in July 2015

Mineral Resources: 5.1Moz Au2

Ore Reserves: 2.9Moz Au2

Cowal

1. This information is extracted from the release entitled “September 2015 Quarterly Report” released on 23 October 2015. The reported interval is a downhole width as true widths are not currently known. An estimated true width (“etw”) is provided. The Company confirms that it is not aware of any new information or data that materially affects the information included in the Report 2. Further details on the Cowal Mineral Resources and Mineral Reserves are appended to this presentation and full details are provided in the report entitled “Annual Mineral Resources and Ore Reserves Statement” released on 21 April 2016 and is available to view on www.evolutionmining.com.au

11

Cowal gold mineralisation, recent drilling and E42 open pit outline

E41 West

E46

Galway/Regal

E46 East

Hole

E46D3238

25m at

4.8g/t Au

E42

E41 East

Open at depth

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Large foothold in a world-class district

Located 20km directly west of Kalgoorlie

Frog’s Leg underground & White Foil open pit

1.6Mtpa Mungari CIL processing plant

Under-explored ~920 km2 tenement package

FY16 attributable production guidance of 120 –

135koz Au at an AISC of A$920 – A$1,020/oz

Net mine cash flow of A$61.4 million in first seven

months of ownership

Potential new discovery at Johnson’s Rest with

best intersection:

10m (8.66m etw) grading 22.32g/t from 118m

Recent resource definition drilling has extended

mineralisation at Frog’s Leg and White Foil beyond

December 2015 Ore Reserve limits

Mineral Resources: 4.5Moz Au1

Ore Reserves: 0.7Moz Au1

Mungari

Location of Mungari including recently acquired Phoenix Gold tenements

1. See Mungari Mineral Resources and Ore Reserves appended to this presentation for details on Reserve and Resource estimates 12

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Mt Carlton

Delivering exceptional results

One of the highest grade open pit gold mines in

the world

Developed by Evolution; commissioned in 2013

FY16 production guidance of 100 – 105 koz Au

at AISC of A$760 – A$810/oz

FY16 YTD net mine cash flow of A$63.8 million

Consistent positive grade reconciliation

March 2016 YTD mined grade of 6.4g/t Au

vs reserve grade of 4.8g/t Au

High level of confidence in mine life extensions

Recent high-grade intersections1 from drill

program targeting mine life extension including:

10m (5.7m etw) grading 22.0g/t from 69m

in hole HC15DD1147

Mineral Resources: 0.9Moz Au2

Ore Reserves: 0.7Moz Au2

1. This information is extracted from the release entitled “December 2015 Quarterly Report” released on 27 January 2016. The reported interval is a downhole width as true widths are not currently known. An estimated true width (“etw”) is provided. The Company confirms that it is not aware of any new information or data that materially affects the information included in the Report 2. See Mt Carlton Mineral Resources and Ore Reserves appended to this presentation for details on Reserve and Resource estimates

13

Mt Carlton alteration zonation model , high-grade feeder zones and interpreted

trends (hot pink), and V2 pit design

Alunite-dickite alteration

High-grade feeder trends

Alunite alteration core

High-grade feeder

zones

A39

pit

V2 pit

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Mt Rawdon

A consistent performer

Delivered consistent, reliable performance

since Evolution’s inception in 2011

Mt Rawdon has successfully replaced all

mining depletion under Evolution ownership

(November 2011 Ore Reserves: 0.9Moz Au)

Access to higher grade ore at the base of the

pit is expected in the June 2016 quarter putting

Mt Rawdon back on track after recent weather-

related underperformance

Improved cash generation in coming years as

accelerated stripping nears completion

FY16 YTD net mine cash flow of A$6.3 million

Mineral Resources: 1.2Moz Au1

Ore Reserves: 0.9Moz Au1

14

Mt Rawdon Open Pit

High-grade feeder trends

A39

pit

V2 pit

1. See Mt Rawdon Mineral Resources and Ore Reserves appended to this presentation for details on Reserve and Resource estimates

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15

Operations update

Cracow

Minimising dilution to achieve higher grades

Track record of replacing depleted ounces

Recent resource definition drilling at Coronation confirmed depth

extension of high-grade mineralisation. Best intersection: 4.7m (4.2m etw)

grading 50.91g/t Au

FY16 YTD net mine cash flow of A$33.5M

Cracow

Edna May

Mining currently focused on Stage 2 cutback

Access to higher gold ore grades expected in the June 2016 quarter

Phase 1 development of the Edna May underground approved (A$16.0M)

targeting an initial resource of 200koz gold

FY16 YTD net mine cash flow of A$1.2M during capital intensive period

Pajingo

Consistently generating positive cash flow

Recent addition to Resources of 98koz from Camembert orebody

Recent resource definition drilling at Anne and Janet B delivered

encouraging intersections including: 15.4m (12.0m etw) grading 7.4g/t Au

FY16 YTD net mine cash flow of A$21.0M

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Delivering on growth

302,842 346,979 392,920 427,703 437,570

770,000 – 820,000

FY11 FY12 FY13 FY14 FY15 FY16 GuidanceGold equivalent production (oz)

Group production

93

99

78

102

66

FY15A production (koz)

233

128

90

86

103

93

63

FY16E production guidance midpoint (koz)

Cowal

Mungari

Cracow

Edna May

Mt Carlton

Mt Rawdon

Pajingo

Old Evolution New Evolution

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Executing a clear and sound strategy

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First world jurisdiction Operating in Australia

Gold miners currently experiencing strong tailwinds

Mid-tier 6 – 8 asset portfolio to ensure focus is maintained

Low cost Driving down costs and improving productivity

Upgrading the quality of the portfolio

Reliability Continued delivery on production and cost guidance

Optimising diversified open pit and underground asset base

Organic growth Investing in near mine exploration

M&A Logical, opportunistic, value accretive acquisitions

Superior returns Balance sheet strength

Capital growth and consistent semi-annual dividends For

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Evolution Mining ASX Code: EVN

www.evolutionmining.com.au

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Evolution Mineral Resources Dec 2015

Full details are provided in the report entitled “Annual Mineral Resources and Ore Reserve Statement 2015” released to ASX on 31 April 2016 which is available to view at www.evolutionmining.com.au

Full details of the Phoenix Gold Limited Mineral Resources that have not materially changed since last reported and now included at Mungari (Regional) are provided in the report entitled “Phoenix’s Mineral Resources grow beyond 4 million

ounces” released to ASX on 14 January 2015, and “Further information on updated total Resource” released on 19 January 2015 by Phoenix Gold Limited (“Phoenix”) and are available to view on www.evolutionmining.com.au

The Company confirms that it is not aware of any new information or data that materially affects the information included in the Report and that all material assumptions and technical parameters underpinning the estimates in the Report

continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Persons’ findings are presented have not been materially modified from the Report

Data is reported to significant figures to reflect appropriate precision and may not sum precisely due to rounding

Mineral Resources are reported inclusive of Ore Reserves 1Includes stockpiles + Twin Hills has not changed as it is being reported as 2004 JORC Code

Due to depletion of A39 at Mt Carlton and lower grade Ag, Cu for remaining resource at Mt Carlton, the 2015 Mineral Resources and Ore Reserves statement has been reported in gold ounces

The Cowal mine was acquired on 24 July 2015 and the Mungari assets on 24 August 2015

19

Gold Measured Indicated Inferred Total Resource

Project Type Cut-Off Tonnes (Mt) Gold grade (g/t) Gold metal

(koz) Tonnes (Mt)

Gold grade

(g/t) Gold metal

(koz) Tonnes (Mt)

Gold grade

(g/t) Gold metal

(koz) Tonnes (Mt)

Gold grade

(g/t) Gold metal

(koz)

Cowal1 Total 0.40 39.93 0.71 906 95.68 1.05 3,226 28.51 1.00 913 164.12 0.96 5,046

Cracow1 Total 2.80 0.34 10.57 115 1.00 6.53 210 1.08 5.15 178 2.42 6.48 504

Pajingo Open pit 0.75 - - - 0.09 2.30 7 0.06 4.34 8 0.15 3.09 14

Pajingo1 Underground 2.50 0.09 11.54 32 0.63 7.91 161 1.67 6.82 367 2.39 7.28 560

Pajingo Total 0.09 11.54 32 0.72 7.22 168 1.73 6.74 375 2.54 7.04 574

Edna May1 Open pit 0.40 - - - 15.38 0.97 479 2.53 0.73 59 17.92 0.94 539

Edna May Underground 2.50 - - - 1.13 7.68 278 0.10 7.62 23 1.22 7.67 301

Edna May Total - - - 16.51 1.43 757 2.63 0.98 83 19.14 1.37 840

Mt Carlton1 Open pit 0.35 0.08 9.09 24 8.38 3.09 834 - - - 8.46 3.15 858

Mt Carlton Underground 2.50 - - - - - - 0.16 5.35 27 0.16 5.35 27

Mt Carlton Total 0.08 9.09 24 8.38 3.10 834 0.16 5.35 27 8.62 3.19 885

Mt Rawdon1 Total 0.20 0.51 0.53 9 50.58 0.70 1,138 5.00 0.57 91 56.09 0.69 1,238

Mungari1 Open pit 0.50 0.67 1.16 25 9.10 1.54 451 - - - 9.77 1.52 476

Mungari1 Underground 2.5/1.2 1.80 6.94 403 7.99 2.51 645 4.02 1.85 236 13.81 2.90 1,287

Mungari1 Total 2.47 5.39 428 17.09 1.99 1,096 4.02 1.85 236 23.58 2.33 1,763

Mungari Regional Total 0.49 1.96 31 27.43 1.46 1,289 26.85 1.60 1,385 55.75 1.54 2,767

Twin Hills+ Open pit 0.50 - - - - - - 3.06 2.10 204 3.06 2.10 204

Twin Hills+ Underground 2.30 - - - - - - 1.56 3.90 194 1.56 3.90 194

Twin Hills+ Total - - - - - - 4.62 2.68 398 4.62 2.68 398

Total 43.91 1.09 1,545 217.39 1.25 8,718 74.60 1.54 3,686 336.88 1.29 14,015 For

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Evolution Ore Reserves Dec 2015

Full details Of Evolution’s Mineral Resources and Ore Reserves are provided in the report entitled “Annual Mineral Resources and Ore Reserve Statement 2015” released to ASX on 31 April 2016 which is available to view at

www.evolutionmining.com.au

Data is reported to significant figures to reflect appropriate precision and may not sum precisely due to rounding 1Includes stockpiles

Due to depletion of A39 at Mt Carlton and lower grade Ag, Cu for remaining resource at Mt Carlton, the 2014 Mineral Resources and Ore Reserves statement has been reported in gold ounces

The Cowal mine was acquired on 24 July 2015 and the Mungari assets on 24 August 2015

The Company confirms that it is not aware of any new information or data that materially affects the information included in the Report and that all material assumptions and technical parameters underpinning the estimates in

the Report continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Persons’ findings are presented have not been materially modified from the Report

20

Gold Proved Probable Total Reserve

Project Type Cut-

Off Tonnes (Mt)

Gold grade

(g/t)

Gold metal

(koz) Tonnes (Mt)

Gold grade

(g/t)

Gold metal

(koz) Tonnes (Mt)

Gold grade

(g/t)

Gold metal

(koz)

Cowal1 Open pit 0.40 39.93 0.71 906 59.47 1.02 1,941 99.40 0.89 2,848

Cracow1 Underground 3.50 0.50 6.11 98 0.56 5.12 92 1.06 5.59 190

Pajingo1 Underground 3.30 0.17 6.82 37 0.39 5.60 70 0.55 5.97 107

Edna May1 Open pit 0.50 - - - 8.32 1.00 269 8.32 1.00 269

Edna May1 Underground 2.50 - - - 1.34 4.69 202 1.34 4.69 202

Edna May1 Total - - - 9.66 1.51 471 9.66 1.51 471

Mt Carlton1 Open pit 0.80 - - - 4.62 4.78 709 4.62 4.78 709

Mt Rawdon1 Open pit 0.30 0.51 0.53 9 33.92 0.78 855 34.43 0.78 864

Mungari1 Underground 2.90 1.42 5.60 254 0.57 5.60 103 1.99 5.60 357

Mungari1 Open pit 0.70 0.65 1.00 21 5.28 1.69 288 5.93 1.60 309

Mungari1 Total 2.07 4.10 275 5.85 2.10 390 7.92 2.60 665

Total 43.18 0.95 1,325 114.47 1.23 4,528 157.64 1.15 5,853

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FY 2016 YTD group summary

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Units Sep quarter FY16 Dec quarter FY16 Mar quarter FY16 FY16 YTD

Gold produced oz 174,169 203,700 208,963 586,832

By-product silver produced oz 170,202 169,767 242,328 582,296

C1 Cash Cost A$/oz 631 759 752 718

All-In Sustaining Cost1 A$/oz 882 1,016 1,015 975

All-in Cost2 A$/oz 1,015 1,164 1,125 1,105

Gold sold oz 179,256 205,863 203,910 589,030

Achieved gold price A$/oz 1,559 1,536 1,614 1,570

Silver sold oz 178,432 169,767 217,042 565,241

Achieved silver price A$/oz 20 20 20 20

1. Includes C1 cash cost, plus royalty expense, sustaining capital, general corporate and administration expense. Calculated on per ounce sold basis

2. Includes AISC plus growth (major project) capital and discovery expenditure. Calculated on per ounce sold basis

FY 2016 guidance: 770,000 – 820,000oz Au at AISC A$970 – A$1,020/oz

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FY 2016 YTD net mine cash flow

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March 2016 quarter cash flow Operating cashflow

(A$M) Sustaining capital

(A$M) Major projects

(A$M) Net mine cashflow

(A$M)

Cowal 59.4 (6.9) 0.0 52.5

Mungari 26.8 (5.9) (4.5) 16.5

Cracow 19.0 (2.8) (2.8) 13.4

Edna May 0.3 (2.1) (0.9) (2.7)

Mt Carlton 23.9 (2.5) 0.0 21.4

Mt Rawdon 6.7 (2.3) (11.3) (6.9)

Pajingo 18.6 (3.4) (3.7) 11.6

March 2016 Quarter 154.9 (25.9) (23.2) 105.8

December 2015 Quarter 142.0 (16.3) (27.8) 97.8

September 2015 Quarter 147.3 (15.8) (26.4) 105.0

Year to Date (March 16) 444.1 (58.0) (77.4) 308.6

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FY 2016 YTD summary by site

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July 2015 – Mar 2016 Units Cowal Mungari Mt Rawdon Edna May Cracow Pajingo Mt Carlton Group

UG lat dev - capital m - 815 - - 1,784 1,751 - 4,350

UG lat dev - operating m - 1,133 - - 2,133 1,401 - 4,666

Total UG lateral development m - 1,947 - - 3,917 3,152 - 9,017

UG ore mined kt - 418 - - 360 306 - 1,084

UG grade mined g/t - 5.11 - - 6.26 5.48 - 5.59

OP capital waste kt 0 541 10,612 1,295 - - 1,409 13,857

OP operating waste kt 3,024 4,684 359 4,617 - - 683 13,368

OP ore mined kt 6,127 786 1,965 1,713 - - 568 11,159

OP grade mined g/t 1.12 1.47 0.97 0.92 - - 6.36 1.36

Total ore mined kt 6,127 1,204 1,965 1,713 360 306 568 12,243

Total tonnes processed kt 4,937 1,021 2,567 2,260 378 321 570 12,054

Grade processed g/t 1.30 3.04 0.84 0.80 6.13 5.35 6.18 1.75

Recovery % 83.4 93.9 90.8 91.5 93.0 94.4 88.9 88.2

Gold produced oz 172,014 93,745 62,966 53,133 69,345 52,052 83,575 586,832

Silver produced oz 168,765 15,861 82,676 24,836 37,974 50,842 201,343 582,296

Copper produced t - - - - - - 888 888

Gold sold oz 165,369 103,377 61,332 55,715 68,433 52,583 82,221 589,030

Achieved gold price A$/oz 1,569 1,575 1,569 1,595 1,564 1,581 1,548 1,570

Silver sold oz 168,765 15,861 82,676 24,836 37,974 50,842 184,287 565,241

Achieved silver price A$/oz 20 20 20 21 21 21 20 20

Copper sold t - - - - - - 894 894

Achieved copper price A$/t - - - - - - 6,568 6,568

Cost Summary

Mining A$/prod oz 256 517 144 628 404 434 105 331

Processing A$/prod oz 365 253 423 629 202 229 244 329

Administration and selling costs A$/prod oz 106 61 121 149 108 126 225 123

Stockpile adjustments A$/prod oz (124) (19) 81 (26) 2 1 (19) (35)

By-product credits A$/prod oz (19) (3) (27) (10) (11) (20) (115) (29)

C1 Cash Cost (produced oz) A$/prod oz 583 809 743 1,370 705 770 440 718

C1 Cash Cost (sold oz) A$/sold oz 606 733 763 1,306 715 763 447 715

Royalties A$/sold oz 39 34 80 66 87 83 116 65

Gold in Circuit and other adjustment A$/sold oz (25) 110 (43) 29 (54) 9 (21) 2

Sustaining capital1,2 A$/sold oz 60 151 177 69 210 261 90 129

Reclamation and other adjustments A$/sold oz 39 18 25 17 11 14 32 25

Administration costs3 A$/sold oz - 10 - - - - - 37

All-in Sustaining Cost A$/sold oz 719 1,056 1,003 1,488 969 1,129 665 975

Major project capital A$/sold oz 0 45 529 110 63 78 99 102

Discovery A$/sold oz 13 37 1 2 32 44 10 29

All-in Cost A$/sold oz 732 1,138 1,532 1,601 1,064 1,251 774 1,105

Depreciation & Amortisation4 A$/prod oz 276 505 491 421 479 277 504 405

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